Blockonomi

TLDR:
Google PageBreak found more than 500 verified XSS vulnerabilities across company web applications after testing suspected exploits in live environments.
Dedicated validators test JavaScript payloads and other attack paths, keeping false positives close to zero before reports reach engineers.
Two XSS flaws surfaced among hundreds of applications built with high-assurance frameworks, limited to internal applications or debug endpoints.
Google plans a closer link between PageBreak and CodeMender so teams can review generated fixes beside confirmed security findings.
Google PageBreak has identified more than 500 cross-site scripting flaws across the company’s first-party web applications. The AI security agent tests suspected weaknesses against working services before product teams receive a report. That validation step separates usable exploits from believable but faulty model-generated attack descriptions.
Google began PageBreak as a pilot in November 2025 and made it a formal project in January 2026. Google’s Product Security team said the system found XSS flaws on sensitive company domains. Google did not name the affected applications or disclose a severity breakdown. The figure covers its web application estate.
Google PageBreak Filters XSS Flaws Before Team Review
PageBreak sends each candidate issue to a dedicated validator rather than routing every alert to engineers. For an XSS vulnerability, the validator injects JavaScript into the relevant page and observes whether it executes. Google said that process holds false positives close to zero. It prevents untested claims from reaching product teams for review.
Google PageBreak also tests whether injected inputs alter database queries, expose files through path traversal, or trigger code execution. Another validator examines requests that may reach internal services. Those checks let the system assess several attack classes. They also keep reports focused on working paths.
Most scans use Gemini 3.1 Pro or Gemini 3.5 Flash. Separate tools perform the exploit checks. The validators do not come from the AI agent itself. Google repeats attempts because models can abandon a productive route. They can also pursue an attack path that fails under actual application conditions.
Unverified results do not leave the internal security workflow as confirmed bugs. Teams can use them to refine future scans or create additional validators. This distinction matters because language models can produce detailed security narratives. Those narratives may not reproduce when tested in an application.
Google said its system validates more than browser scripts. It can check whether an injected input changes a database query. It can also identify file exposure through path traversal. Each candidate needs an independent proof before engineers treat it as a vulnerability.
Google PageBreak Extends Testing into Repair Workflows
Google PageBreak found two XSS vulnerabilities among hundreds of applications built on its high-assurance web frameworks by September 4. Both cases involved internal applications or debug endpoints with missing protections. That count applies only to the framework group. It does not cover the more than 500 findings across Google’s wider application estate.
The result tests framework protections under repeated automated scans. PageBreak can inspect code paths across services through the company repository. Security data from live web traffic can connect a requested page with relevant source code. Existing scanners also provide authenticated access to internal sites.
That environment sets PageBreak apart from a public model scan. External researchers cannot usually inspect Google code, traffic data, or protected testing systems. Google PageBreak therefore reflects an internal security workflow with deep operational access. The count does not show that another organization could get the same result by running Gemini alone.
Google plans to connect Google PageBreak more closely with CodeMender, an agent designed to generate security fixes. Product teams could then review a proposed repair beside a confirmed vulnerability. The company said the pairing could reduce work created by a large volume of verified findings. Google gave no timetable for integration.
Comparable verification problems affect crypto software, where AI tools can create many plausible reports. The Ethereum Foundation has used separate reviewers to reproduce agent-generated findings. A Bitcoin Red Team scan found only 24.7% of reported issues had reproducible proofs at the time. Google has not said it will make PageBreak available to external projects.
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TLDR:
Buybacks on functional crypto systems don’t signal a promise of essential managerial efforts.
Non-functional systems face stricter scrutiny if buybacks are framed as yielding returns.
Staking Receipt Tokens may qualify as digital commodities under certain issuer structures.
SEC staff stress these FAQs are nonbinding and carry no legal force or effect.
The U.S. Securities and Exchange Commission staff released new FAQs on September 25 clarifying how token buybacks and liquid staking fit within federal securities laws.
The guidance explains that announcing a buyback of a non-security token on a functional crypto system does not amount to a promise of essential managerial efforts.
This distinction matters for issuers navigating the Howey test and determining whether their tokens qualify as investment contracts under current SEC interpretations.
Buyback Programs and Functional Systems
The FAQs, issued by the Division of Corporation Finance, address a common industry practice. Issuers often run buyback programs for treasury management, supply reduction, or rebalancing purposes.
According to the new guidance, these announcements do not constitute a promise to undertake essential managerial efforts when the underlying crypto system is already functional.
The analysis changes for systems that are not yet functional. A buyback announcement could be treated as such a promise if the issuer frames it as “creating yield or return for token holders,” according to the FAQs.
This distinction ties directly into the Howey test, which examines whether purchasers expect profits based on the efforts of others.
Journalist Eleanor Terrett summarized the update on X, writing that the new FAQs are “clarifying how the Commission’s March interpretive release” applies to token functionality and staking receipts. She added that the guidance reflects staff views only and carries no legal force.
NEW: SEC staff has issued new FAQs clarifying how the Commission’s March interpretive release on digital assets applies to token functionality, staking receipt tokens and investment contracts.
Among the guidance: once a network is functional, services to maintain, improve or… pic.twitter.com/jxOiWGLQN9
— Eleanor Terrett (@EleanorTerrett) September 25, 2026
The FAQs also reaffirm an earlier position from the Commission’s August proposing release. Securing, maintaining, or enhancing a functional system does not involve essential managerial efforts. The same applies to funding or sponsoring development projects that support network effects.
Staking Receipt Tokens and Classification Guidance
The FAQs further address how Staking Receipt Tokens are classified under the Interpretive Release. A receipt tied to a digital commodity that is not subject to an investment contract functions as a digital tool. It evidences ownership of an underlying asset rather than creating new financial rights.
However, classification can shift depending on the issuer. A Staking Receipt Token issued by a protocol-based Liquid Staking Provider may itself qualify as a digital commodity.
Its value derives from the programmatic operation of a functional crypto system, alongside ordinary supply and demand dynamics.
The staff also clarified how promotional language factors into the analysis. Promoting a system’s current utility and capabilities likely does not, on its own, create a promise of managerial efforts. Indefinite statements about future utility receive similar treatment when profit potential is not mentioned.
Notably, the document states the answers have “no legal force or effect” and do not alter existing law. Issuers and market participants should treat the guidance as interpretive context rather than binding regulation.
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TLDR:
Bybit’s Restricted Counterparty List includes Garantex, Bitzlato, EXMO, Payeer and dozens of platforms.
The list also names Lazarus Group, Hamas, Ansarallah and ISIS-K as sanctioned organizations.
Bybit screens transactions on an ongoing basis and may suspend accounts linked to violators.
Huione Guarantee and Xinbi Guarantee face scrutiny over facilitating illicit fund transfers in Asia
Bybit has released a comprehensive Restricted Counterparty List identifying crypto platforms, wallets, and organizations barred from its services.
The list spans trading platforms, payment processors, mixers, darknet markets, and sanctioned entities such as Lazarus Group, Hamas, Ansarallah, and ISIS-K.
The exchange said it actively screens transactions against these names and reserves the right to suspend accounts, block funds, and report violations to regulators.
Bybit Names Dozens of Restricted Platforms and Services
The Restricted Counterparty List includes well-known names such as Garantex, Bitzlato, EXMO, Payeer, and Nobitex. Other flagged platforms include Bitpapa, Chatex, Cryptex, Grinex, and Rapira. The exchange also named WhiteBird, OMPFinex, Ramzinex, HTX, and Wallex among restricted services.
Additional entries cover Tetherland, Bit24, QvaPay, and two guarantee marketplaces, Huione Guarantee and Xinbi Guarantee. These marketplaces have drawn scrutiny for facilitating illicit fund transfers across Southeast Asia.
Source: https://t.co/SloMtaqE75
— Wu Blockchain (@WuBlockchain) September 25, 2026
Mixing services Samourai Wallet, Bitcoin Fog, and ChipMixer appear on the list as well, alongside darknet markets Sinbad and Hydra Market.
Bybit cited its Platform Terms and Conditions as the basis for the restrictions. Under Section 23 of these terms, and Section 28 of the BVAPO Terms, the exchange does not offer services to entities designated under applicable sanctions frameworks.
This includes names on the U.S. Treasury’s Specially Designated Nationals list, the EU’s Consolidated Financial Sanctions List, and equivalent registries maintained by competent authorities worldwide.
The exchange said its screening process runs on an ongoing basis rather than as a one-time check. Where a connection to a prohibited entity is identified, Bybit may suspend or terminate accounts linked to that entity. It may also block related transactions, file regulatory reports, and liquidate open positions tied to the account.
Sanctioned Organizations and Compliance Obligations Outlined
Beyond crypto platforms, the list names organizations tied to security concerns, including Lazarus Group, also known as Hidden Cobra.
Hamas, referred to as the Islamic Resistance Movement, appears alongside Ansarallah, commonly known as the Houthis. ISIS-K, listed as ISIS-Khorasan, rounds out the named organizations.
Bybit outlined user obligations tied to these restrictions in its terms. Users who transact with, transfer funds to, or otherwise engage with a prohibited entity violate the platform’s terms. Users who become aware of such a transaction are required to inform Bybit immediately under the policy.
The exchange stated it reserves the right to take all necessary steps to maintain compliance with applicable laws. This includes cooperation with regulatory bodies and law enforcement authorities across relevant jurisdictions. Bybit did not specify a timeline for updates to the list.
The move reflects a broader pattern among major exchanges tightening compliance amid rising regulatory pressure. Platforms handling sanctioned counterparties face growing scrutiny from global financial watchdogs.
Bybit’s published list gives users a reference point for avoiding inadvertent violations tied to these entities.
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TLDR
Meta stock drops 3.35% as shares move toward the $750 support zone
Meta introduces Muse AI features for its growing smart glasses lineup
Charm device expands access to Meta’s consumer AI technology ecosystem
The company plans over 100 AI glasses styles by year-end
Meta continues building wearable AI products beyond smartphones
Meta Platforms (META) shares traded at $751.51, down 3.35%, after selling pressure pushed the stock lower from the $770 area toward the $750 support zone. The decline followed Meta’s announcement of new AI glasses features linked to its Muse agent and Charm device. The company continues expanding its consumer AI strategy through wearable technology and connected devices.
Meta Platforms, Inc., META
Meta Stock Falls After New AI Glasses Developments
Meta Platforms reported plans to bring Muse capabilities to its AI glasses lineup as the company expands its consumer AI products. The feature allows the glasses to respond to what users see and support tasks during ongoing conversations. Meta also introduced Charm, a smaller device designed for users to interact with Muse.
The company stated that Muse will support functions such as shopping, payments, work integrations, and daily assistance. Meanwhile, Meta plans to expand its AI glasses range to more than 100 styles by year-end. The move strengthens Meta’s focus on wearable devices beyond traditional smartphone-based experiences.
META shares fell during the trading session on September 25, 2026. Shares fell 2.8% to $755.815 at 10:13 am ET before continuing the broader intraday decline. The stock later traded near $751.51 as selling pressure remained active.
Meta Expands Muse Across Wearable Technology
Meta’s AI glasses strategy builds on the company’s efforts to combine hardware, software, and artificial intelligence features. The company aims to increase daily usage through devices that provide direct access to its AI services. The expansion adds another layer to Meta’s existing social media and technology operations.
Muse will include features that connect users with digital services while using Meta’s glasses. The system will also have its own email address, which supports broader communication features. These updates position Meta’s glasses as a central part of its consumer technology roadmap.
The company has continued investing heavily in artificial intelligence products and infrastructure. Meta has introduced several AI-focused initiatives across its platforms, including social applications and hardware products. The latest announcement highlights its effort to expand AI access through physical devices.
META Valuation Reflects AI Growth Focus
Meta’s valuation snapshot on September 25 placed the company below its GF Value estimate of $856.24. The figure showed META trading 11.73% below that estimate. The valuation data does not confirm future performance but reflects current market calculations.
The company’s future revenue opportunities from Muse depend on adoption of its AI glasses and related services. Meta has highlighted areas such as subscriptions, purchases and advertising as potential business models. However, the company has not provided confirmed revenue figures from Muse.
Meta continues to develop its AI ecosystem while maintaining its core advertising business. The company’s wearable technology expansion adds a new product category alongside its existing platforms. META shares remain focused on market reactions as the company advances its AI glasses plans.
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TLDR
NetApp NTAP shares gained as PEAK:AIO acquisition plans boosted AI infrastructure focus
PEAK:AIO technology will expand NetApp’s metadata and file system capabilities
The deal aims to support larger data environments and advanced workloads
NetApp combines ONTAP expertise with PEAK:AIO scalable architecture solutions
Acquisition strengthens NetApp’s position in the evolving infrastructure market
NetApp, Inc. (NTAP) shares gained 1.48% to $200.16 as the company announced plans to acquire PEAK. The deal targets stronger AI infrastructure capabilities by adding advanced metadata architecture and parallel file system technology. NetApp expects the acquisition to improve large-scale data management for growing AI workloads.
NetApp, Inc., NTAP
NetApp Expands AI Infrastructure Strategy Through PEAK Deal
NetApp announced its agreement to acquire PEAK, a company focused on high-performance metadata systems. The transaction supports NetApp’s strategy to build infrastructure for expanding enterprise AI applications. Furthermore, the deal adds specialized technology to its existing data management portfolio.
The acquisition combines PEAK’s metadata architecture with NetApp’s ONTAP software platform. This integration aims to improve storage performance for large computing environments. Therefore, organizations can access stronger systems for handling complex and data-intensive workloads.
PEAK developed technology designed for demanding computing operations with support from research institutions. The company created solutions that improve metadata scaling and global file access. Consequently, NetApp plans to use these capabilities to support larger data environments.
NetApp Targets Scalable Storage Growth With Advanced Data Systems
NetApp stated that the combined platform will support massive file environments and multi-exabyte deployments. The architecture separates metadata services from stored data to improve scalability. In addition, the approach helps organizations manage growing infrastructure requirements.
The planned integration introduces parallel access features for large-scale workloads. NetApp will maintain its focus on security, resilience, and operational simplicity. Meanwhile, PEAK technology will expand options for customers managing advanced computing systems.
The acquisition reflects rising demand for infrastructure that supports modern data operations. Companies continue developing larger computing environments that require faster and more efficient storage solutions. As a result, NetApp aims to strengthen its position in the expanding infrastructure market.
The company expects PEAK’s technology to complement its existing product ecosystem. The integration will focus on improving performance across demanding workloads. Additionally, NetApp will provide global resources and operational expertise to expand adoption.
The acquisition adds another step in NetApp’s long-term infrastructure development strategy. The company continues adapting its offerings for changing enterprise technology needs. Through the PEAK transaction, NetApp seeks to deliver more scalable data solutions for future workloads.

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TLDR
Microsoft stock rises as Oppenheimer lifts its price target to $570
Copilot strategy shifts focus toward enterprise AI adoption and usage
New billing model links AI agent revenue with customer demand growth
Microsoft combines Copilot tools to improve workplace productivity features
AI expansion supports Microsoft’s broader cloud and software strategy
Microsoft Corporation (MSFT) shares traded at $517.17, gaining 3.86%, after Oppenheimer raised its price target following stronger enterprise AI expectations. The analyst increased the target to $570 from $515 while maintaining a positive rating. Microsoft continues reshaping Copilot to strengthen its position in business technology.
Microsoft Corporation, MSFT
The company’s latest Copilot strategy focuses on corporate customers rather than consumer AI services. As a result, Microsoft aims to expand enterprise adoption through workplace productivity tools. The shift comes as businesses increase demand for AI-powered software solutions.
Microsoft has also introduced usage-based billing for AI agents, changing how the company generates revenue from these services. Future AI income could depend more on customer activity. The model moves beyond traditional subscription-based software structures.
Microsoft Copilot Shift Strengthens Enterprise AI Position
Oppenheimer analyst Brian Schwartz raised the Microsoft price target after identifying stronger enterprise adoption trends. The analyst noted that customers increasingly select Microsoft as their main enterprise AI platform. The research also highlighted potential challenges from changing technology demand.
Microsoft shares have gained 7% year to date, while the Technology Select Sector SPDR Fund has increased 37%. The performance gap reflects concerns surrounding Microsoft’s AI spending strategy. The Copilot update has renewed attention toward its enterprise growth plans.
The company has combined consumer and workplace Copilot services into one application. This move places greater emphasis on business users and professional workflows. Microsoft is now prioritizing productivity solutions that help organizations complete tasks more efficiently.
The redesigned Copilot application includes several workplace-focused features. Users can access conversational tools, manage tasks, and edit Microsoft Office documents through one platform. The system supports broader workplace automation.
New AI Agent Billing Model Creates Revenue Opportunities
Microsoft’s updated billing structure introduces a pay-as-you-go approach for AI agents. The model connects revenue generation with actual usage instead of relying only on fixed subscriptions. Businesses could increase spending as they expand AI adoption.
The company already supports millions of Copilot subscriptions across enterprise customers. Usage-based pricing creates another pathway for revenue growth. This approach could allow Microsoft to capture value from increased workplace automation.
Microsoft’s AI strategy remains connected to its broader cloud and software ecosystem. The company continues integrating AI features across products including Microsoft 365 and GitHub. Enterprise demand remains a major focus for future expansion.
The Copilot changes also reflect Microsoft’s decision to compete differently in the AI market. The company has shifted away from building consumer-focused personal assistants. Instead, it is concentrating on tools designed for workplace productivity and business operations.
Copilot Tools Expand Microsoft Workplace Automation
Microsoft organized the updated Copilot platform around three main capabilities. The application combines chat features, task assistance, and document editing functions. It introduces tools that allow employees to create workflows using simple instructions.
The platform also incorporates technology from GitHub Copilot for software development tasks. This feature allows non-technical employees to build applications and dashboards. Companies can maintain control through administrator-managed environments.
Microsoft continues developing AI services as competition increases across the technology sector. The company’s enterprise focus creates a different path compared with consumer-oriented AI products. As a result, Copilot remains central to Microsoft’s future software strategy.
The latest price target increase reflects expectations that enterprise AI demand could support Microsoft’s growth. The company still faces risks from higher spending and changing market conditions. Microsoft’s Copilot expansion remains a key factor shaping its long-term business direction.

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TLDR
Nike stock falls as analysts delay recovery expectations until fiscal 2028
Bank cuts Nike price target after weaker sales growth forecasts emerge
North America wholesale growth faces pressure from slowing demand trends
China operations struggle with weak demand and excess inventory levels
Nike shares remain under pressure after major earnings estimate cuts
NIKE, Inc. traded at $36.08, gaining 0.24%, after analysts lowered the company’s outlook and delayed expectations for a sales recovery. The downgrade reduced the price target to $30 from $47, while the firm cited weaker growth conditions. Nike faces renewed pressure as its turnaround timeline moves further into fiscal 2028.
NIKE, Inc., NKE
The sportswear company has experienced a difficult period as demand patterns continue changing across major markets. Analysts have reduced earnings expectations for the coming fiscal years. The latest outlook reflects concerns over slower sales momentum and weaker product performance.
Nike remains focused on improving product innovation and rebuilding consumer demand. Analysts expect challenges to continue as the company manages inventory levels and shifting customer preferences. The stock has already declined significantly this year compared with broader market gains.
Nike Earnings Forecasts Face Further Reductions
Analysts lowered their fiscal 2027 and fiscal 2028 earnings per share estimates by 11% and 12%, respectively. Forecasts now show negative sales growth continuing through fiscal 2027. The changes reversed earlier expectations that Nike could see a faster recovery.
The revised outlook also reduced Nike’s income rating because of concerns surrounding dividend sustainability. The analysts highlighted that the company’s dividend payout ratio exceeds current earnings levels. The valuation outlook has weakened as profit expectations decline.
The new $30 price target uses a 16 times price-to-earnings multiple. Previously, the target used a higher 22 times multiple based on stronger growth expectations. The adjustment reflects a lower valuation approach compared with earlier projections.
North America Wholesale Growth Faces Pressure
Nike’s North America wholesale business showed recent strength with 14% growth in fiscal 2026. Analysts expect this momentum to weaken as retailer demand slows. Retailers may reduce orders when new products fail to generate expected sales.
The company faces pressure because product launches and classic styles have not delivered consistent consumer interest. Analysts expect North America wholesale sales declines during fiscal 2027. The slowdown could affect Nike’s broader recovery strategy.
Nike has relied heavily on wholesale partnerships to support regional growth. Changing customer demand and cautious retail purchasing could limit future expansion. The company continues efforts to strengthen its product pipeline and brand appeal.
China Market Challenges Add Pressure on Nike Stock
Nike’s China operations face additional challenges as the company changes its online distribution strategy. The transition is expected to increase promotional pressure before the company creates a more unified online presence. As a result, short-term sales conditions remain difficult.
Analysts identified weak sports demand, slower running category growth, and excess inventory across China. Newer products have struggled to attract stronger consumer interest. These factors have created additional obstacles for Nike’s regional recovery plans.
Nike shares have fallen 44% year to date, while the S&P 500 has gained 12% during the same period. Analysts noted that earnings estimates have already declined significantly. Further reductions could continue influencing the company’s valuation.
Nike has made progress with product innovation and brand improvements. Those efforts have not fully offset weakness across larger casual product categories. The company now faces a longer path toward restoring sales growth and improving financial performance.

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TLDR
Cipher Digital stock fell despite a major $5.2 billion revenue expansion deal
Barber Lake lease extension lifts contracted revenue above $9 billion
Cipher Digital shifts focus toward large-scale computing infrastructure growth
Texas data center project gains longer contracts and stronger demand outlook
ERCOT power approvals remain key for future facility expansion plans
Cipher Digital Inc. (CIFR) traded at $17.75, down 1.93%, after its shares retreated from intraday highs. The company expanded its Barber Lake data center agreement, adding $5.2 billion in contracted revenue potential. The lease extension increased the facility’s contracted period while supporting its shift toward computing infrastructure.
Cipher Mining Inc., CIFR
Cipher Digital Extends Barber Lake Contract With $9 Billion Revenue Potential
Cipher Digital secured a lease amendment with Fluidstack that extends the Barber Lake contract framework. The updated arrangement covers a 300-megawatt Texas facility and expands the contract duration up to 20 years. The agreement raises the site’s potential contracted revenue from $3.8 billion to more than $9 billion.
The company also established a separate long-term commitment with a leading artificial intelligence laboratory. The additional agreement could generate about $5.2 billion in incremental contracted revenue over ten years. However, the stock declined as the market absorbed the expanded project details and recent trading pressure.
The Barber Lake site remains scheduled for phased delivery between the fourth quarter of 2026 and first quarter of 2027. Cipher Digital expects individual data halls to begin generating rent after each delivery milestone. The company linked the updated schedule to tenant requirements and project changes.
Cipher Digital Faces Pressure After Infrastructure Expansion Update
Cipher Digital continues building its position in large-scale data center development. The company has moved its focus toward high-performance computing infrastructure and away from traditional Bitcoin mining operations. This transition has increased demand for its long-term facility agreements.
The company will cover the first $359.3 million in costs above the original Barber Lake budget. Meanwhile, the tenant will reimburse 50% of additional costs above that amount through extra rent payments. The structure aims to provide Cipher Digital with a contracted return on reimbursed expenses.
Cipher Digital has secured additional support for Fluidstack obligations through financial backing arrangements. The company expects these agreements to strengthen the project’s long-term revenue visibility. The development highlights rising demand for large-scale computing facilities across the sector.
Cipher Digital Tracks Texas Data Center Growth Challenges
Cipher Digital continues addressing power access requirements linked to expanding data center operations in Texas. The company received conditional grid-capacity designations from ERCOT for several projects. However, those designations still require final approvals before active power connections begin.
The company must complete construction, grid connections, and delivery milestones before reaching full operational capacity. Therefore, project execution remains a key factor for future revenue realization. Cipher Digital maintains that Barber Lake remains aligned with its revised delivery timeline.
The latest contract expansion strengthens Cipher Digital’s contracted infrastructure portfolio while adding new revenue opportunities. The stock performance reflected short-term market pressure despite the broader project expansion. The company remains focused on developing long-duration data center assets for growing computing demand.

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TLDR:
Seven Coinbase tokenized stocks are now back USDC loans on Aave V4’s Base deployment.
Shares sit at Alpaca Securities, with Coinbase holding them as bare trustee for holders.
Chainlink’s 24/5 feeds price the tokens; weekend prices hold at the last published value.
Equities are collateral-only for now; borrowing the stock tokens isn’t yet enabled.
Coinbase tokenized stocks are now live as collateral on Aave V4, deployed on Base. Seven tokenized US equities, AAPLc, AMZNc, GOOGLc, METAc, MSFTc, NVDAc, and TSLAc, can now back USDC loans on the protocol.
Chainlink supplies the pricing data as Coinbase’s official oracle. The launch is available in eligible jurisdictions outside the United States, according to Aave’s official announcement.
The move connects a market Aave itself values at more than $150 trillion to onchain lending. As global equities shift onchain, holders can now borrow against stock positions instead of selling them.
What Are Coinbase Tokenized Stocks?
According to an announcement, Coinbase tokenized stocks represent shares issued onchain as tokens. Each token is a certificate issued by Coinbase Onchain SPV Ltd.
The underlying shares sit with Alpaca Securities LLC, an SEC-registered broker-dealer. They are held in segregated custody accounts under the issuer’s name. The custodian cannot lend the shares or use them for its own account and holds no lien over them.
Coinbase holds them as bare trustee for token holders under a deed of trust. That structure gives holders real economic exposure to equities, not a synthetic price reference.
Dividends do not pay out directly. Instead, they get reinvested, buying additional shares net of fees and withholding tax. Stock splits work the same way.
Both flow through a multiplier that starts at 1.0 and shifts only on corporate actions. Over time, that makes the token a total return instrument that drifts above the raw share price.
Coinbase Tokenized Stocks are live on Aave V4 on @base.
Tokenized stocks are only available in eligible jurisdictions outside of the U.S. pic.twitter.com/VOL363Ihd9
— Aave (@aave) September 25, 2026
Aave V4 Lending Mechanics for Tokenized Stocks
The Equities Hub runs on one USDC reserve. It pairs with a single lending spoke that pools all collateral. Users can post any combination of the seven tokenized stocks and borrow USDC against them. Each token carries its own collateral factor.
At launch, the equities function as collateral only. Borrowing the stock tokens themselves, or opening equity-against-equity positions, is not yet enabled.
The market runs 24/7. Users can supply, borrow, repay, and withdraw at any time, with one exception. During corporate actions like stock splits, the affected reserve pauses until the new multiplier applies.
Pricing comes from Chainlink’s 24/5 tokenized equity feeds, live from Sunday 8 PM ET to Friday 8 PM ET. Over weekends and US market holidays, feeds hold the last published price. Collateral values stay fixed during that window, so a position’s health factor can only fall through interest accrual.
This V4 instance was deployed by Aave Labs on behalf of Aave DAO. LlamaRisk completed the risk analysis behind the launch, per the announcement.
Why It Matters
The integration turns idle stock exposure into working capital without a taxable sale. Traders holding tokenized Apple, Tesla, or Nvidia shares can unlock USDC liquidity while keeping upside exposure.
It also signals a broader shift. Real-world assets are becoming functional DeFi collateral, not just onchain representations sitting in wallets.
More Coinbase tokenized stocks are expected to join the Aave V4 market on Base over time. GHO is also expected to join as a borrowable asset.
Each addition goes through Aave DAO’s governance and risk review process. Supply and borrow caps will also be revisited as token supply and venue depth grow, per the risk steward process.
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TLDR
Event contracts generated $156 million for Robinhood in Q2, representing a tenfold increase from the prior year.
Daily trading volume for prediction markets averaged 152 million contracts in August, a 14-fold expansion year-over-year.
HOOD stock hovers around $118, experiencing a 2% decline today while posting an 11% gain over the trailing week.
The brokerage commands a forward P/E ratio near 45, surpassing rivals Interactive Brokers and Charles Schwab.
Multiple state regulators and plaintiffs are mounting legal challenges against Robinhood’s sports and event contract offerings.
Robinhood Markets (HOOD) is trading around $118 in today’s session, slipping approximately 2% while maintaining a roughly 11% advance from the previous week. The price action reflects investor attention on the explosive expansion of the platform’s latest revenue stream.
The spotlight centers on event contracts, Robinhood’s take on prediction markets. Users purchase contracts priced to pay $1 for accurate predictions on outcomes ranging from political races to sporting events, while incorrect bets yield zero.
During the second quarter, this segment delivered $156 million in revenue—a figure exceeding ten times the amount recorded twelve months prior.
By comparison, options revenue expanded 29% annually. Equity trading surged 95%. Cryptocurrency trading actually contracted 38%. No other segment at Robinhood approaches this growth trajectory.
Event Contracts Climb to Second-Largest Revenue Generator
Twelve months ago, event contracts represented Robinhood’s smallest trading category. Today, only options trading generates higher revenue.
The platform processed 13.6 billion contracts in Q2, marking a tenfold volume increase from last year. Daily contract placement in August alone averaged 152 million, representing 14 times the prior-year rate.
This expansion has captured attention from market commentators. Jim Cramer has highlighted the business alongside Robinhood’s Gold Card, which delivers 3% cash back. He described the firm as being “on a major roll.”
Robinhood’s overall Q2 performance supports that characterization. Net deposits reached a record $22 billion. Platform assets climbed 32% to $369 billion. Gold subscribers increased 39% to 4.8 million.
Thirteen distinct business segments each crossed $100 million in quarterly revenue. That diversification marks significant evolution for a platform originally recognized primarily for zero-commission stock trading.
Regulatory and Legal Obstacles Multiply
Rapid expansion of this magnitude invariably draws regulatory attention, and Robinhood’s prediction markets face mounting challenges. Plaintiffs across six states have filed suits seeking to recoup losses under state gambling statutes.
Native American tribal authorities have also initiated legal action concerning sports contracts offered within their jurisdictions. A federal appellate court ruled favorably for two tribes in late August, indicating their claims have strong merit.
The same court authorized Nevada to enforce its gambling regulations against Robinhood’s sports contracts. Missouri’s attorney general escalated further, issuing an order requiring Robinhood and five competing platforms to cease sports contract offerings statewide.
Massachusetts securities authorities are conducting their own review of these products, according to Robinhood’s most recent regulatory filing. The company acknowledges that emerging legislation could compel complete withdrawal of event contracts.
August volumes already showed signs of cooling, declining 23% from July levels. Nevertheless, applying Q2’s revenue-per-contract metrics, the business would still project approximately $650 million on an annualized basis.
Robinhood continues doubling down on this space. In January, a joint venture with Susquehanna International Group acquired a 90% stake in MIAX Derivatives Exchange, a regulated derivatives trading platform and clearinghouse.
From a valuation perspective, HOOD carries a forward earnings multiple between 42 and 45, substantially exceeding Interactive Brokers’ 28 and Charles Schwab’s 12.8. Short interest stands at 4.62% of the float, elevated compared to both competitors.
Across the entire company, Robinhood delivered record quarterly revenue of $1.31 billion in Q2, advancing 32% year-over-year, while net income surged 48% to $573 million. Approximately 36% of total revenue remains concentrated in equities and options trading.
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Key Takeaways
Microsoft stock advanced approximately 3% following the introduction of enhanced Copilot AI capabilities, featuring a persistent AI agent.
Meta’s market capitalization surged by nearly $200 billion after its Muse AI assistant accumulated 2.8 million downloads within twelve days.
Equity markets remained largely unchanged as traders balanced enthusiasm for AI advances with concerns over rising yields and energy costs.
Crude oil retreated on optimism surrounding potential diplomatic breakthroughs in U.S.-Iran discussions regarding the Strait of Hormuz.
Bitcoin maintained support around $84,000, posting approximately 44% quarterly gains in its strongest performance since Q4 2024.
Financial markets wrapped up the trading week with cautious optimism. Traders navigated between robust artificial intelligence sector momentum and headwinds from elevated borrowing costs and commodity prices. Meanwhile, cryptocurrency markets demonstrated resilience following recent turbulence.
Microsoft (MSFT) Advances on Enhanced Copilot AI Capabilities
Microsoft equity rallied approximately 3% during Friday’s session. The gains followed the technology giant’s announcement of expanded functionality for its Copilot AI ecosystem.
The enhancements encompass advanced programming utilities and introduce a continuously operating AI agent engineered to provide uninterrupted user assistance.
Microsoft emerged as a leading performer within the S&P 500 index throughout the trading day. The company’s strength offset weakness observed in other market sectors.
Market participants are monitoring whether these enhanced capabilities drive increased enterprise adoption. Successful implementation would likely generate expanded recurring revenue streams.
Equity Markets Stabilize Following Week of Uncertainty
Broadly, U.S. equity indices finished Friday’s session relatively unchanged. Market participants processed simultaneous signals from technology equities, fixed income securities, and commodity markets.
Artificial intelligence-focused companies provided upward momentum. However, climbing Treasury yields and sustained oil prices prompted investor caution.
Higher yields diminish the present value of anticipated corporate profits. Elevated energy costs additionally fuel inflationary pressures and challenge expectations for monetary policy easing.
Despite these headwinds, international equity markets approached their most robust weekly performance since early August. Revived interest in technology and AI-related investments propelled this momentum.
Meta’s (META) Muse AI Assistant Continues Capturing Market Attention
Meta remained in the spotlight throughout the trading week. Its recently launched Muse AI assistant has demonstrated impressive early traction.
The social media giant has accumulated approximately $200 billion in additional market capitalization since Muse’s introduction. This appreciation directly correlates with investor enthusiasm surrounding the offering.
Muse attracted approximately 2.8 million downloads throughout the U.S. and Canadian markets during its initial twelve-day period, according to Reuters data. This represents exceptional velocity for a newly launched AI application.
Market observers are now focused on whether initial adoption momentum translates into sustainable revenue generation. Advertising platforms, subscription models, and e-commerce integration represent the most probable monetization pathways.
Crude Prices Decline on Diplomatic Optimism With Iran
Oil prices experienced modest declines Friday. Market participants responded to indications of potential advancement in diplomatic discussions between the U.S. and Iran.
Any agreement facilitating unrestricted passage through the Strait of Hormuz could alleviate concerns regarding global energy distribution. The implications would extend significantly beyond petroleum markets.
Declining crude valuations can moderate inflationary dynamics. They may additionally reduce some upward pressure affecting Treasury yields.
For equity investors, retreating oil prices could provide additional support to growth-oriented industries including technology.
Bitcoin Maintains Support Following Impressive Quarterly Performance
Bitcoin hovered near $84,000 during Friday’s trading. This represents a modest retreat from peaks approaching $87,000 observed earlier in the week.
Despite the pullback, Bitcoin ranks among the quarter’s top-performing assets. The cryptocurrency has appreciated roughly 44% throughout this period.
This trajectory positions Bitcoin for its most robust quarterly showing since late 2024. Certain long-term holders have initiated profit-taking activities following the substantial rally.
Analysts are observing whether Bitcoin can defend support within the $83,000 to $84,000 range. This zone may prove decisive in determining the asset’s trajectory toward recent peaks.
With AI-driven equities delivering gains, energy prices softening, and Bitcoin demonstrating stability, markets concluded the week with risk appetite firmly intact.
The post Microsoft (MSFT) and Meta (META) Lead Market Rally on AI Momentum While Bitcoin Stabilizes appeared first on Blockonomi.

TLDR
Oracle stock drops as Project Jupiter faces construction delays and setbacks
Data center disruptions create pressure across the expanding AI infrastructure sector
Rising costs challenge Oracle’s plans for future computing capacity growth
Market concerns increase as infrastructure debt risks continue to develop
Delayed projects highlight challenges facing large-scale technology expansion plans
Oracle Corporation (ORCL) shares traded at $138.18, down 0.97%, after data center delays raised concerns. The company faces pressure as Project Jupiter encounters regulatory and construction setbacks. Meanwhile, broader infrastructure challenges are increasing scrutiny across the artificial intelligence expansion market.
Oracle Corporation, ORCL
Oracle Project Jupiter Faces Delays as Data Center Costs Rise
Oracle has taken steps to limit expenses linked to Project Jupiter in New Mexico. The company faces delays after local opposition and regulatory issues slowed construction progress. Therefore, the project has created additional pressure on Oracle’s expansion plans.
The delayed facility forms part of a wider wave of blocked data center developments. Reports indicate affected projects could represent billions of dollars in planned infrastructure spending. Consequently, companies across the sector face longer timelines and higher development costs.
Oracle has also moved to protect its financial position by addressing supplier payment obligations. The company remains smaller than major cloud providers with larger financial resources. However, the delays highlight challenges facing companies building expensive digital infrastructure.
Oracle Stock Decline Highlights Growing Infrastructure Challenges
Oracle shares have fallen significantly over the past year as market concerns increased. The decline reflects questions surrounding future growth expectations and infrastructure commitments. Additionally, the company faces pressure from rising construction expenses and delayed project completion.
The artificial intelligence expansion requires major investments in data centers and computing capacity. As a result, companies have committed substantial capital toward new facilities. However, delayed projects could affect revenue generation and operational plans.
Apollo has identified rising risks linked to corporate debt supporting the artificial intelligence infrastructure boom. The concerns involve expensive construction projects and uncertain revenue growth from new capacity. Therefore, delayed facilities could create additional financial challenges for some companies.
Wider Data Center Delays Create Pressure Across Technology Sector
The data center industry continues to experience delays caused by regulatory reviews and local opposition. Estimates suggest affected projects could reach between $64 billion and $200 billion. Meanwhile, hundreds of facilities have reportedly faced delays during the year.
Oracle remains a smaller participant compared with larger cloud infrastructure companies. However, its challenges have increased attention on the financial demands of expansion projects. The sector requires continued spending to support growing computing needs.
The company’s recent performance has become a key example of infrastructure challenges. Furthermore, delayed construction and rising costs could influence future expansion strategies. Oracle now faces the task of balancing growth plans with financial discipline.

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Key Highlights
Ethena integrated tokenized US stocks and equity perpetual contracts into the basis trade supporting USDe.
ENA token price increased 12% within 24 hours, reaching approximately $0.249.
The protocol will utilize Binance bStocks for spot exposure while hedging with equity perpetual futures.
Approximately $150,000 worth of short positions in ENA were liquidated, fueling the price surge.
Technical analyst Lana Valentis identified a bullish flag breakout pattern pointing to potential targets near $0.84.
Ethena has significantly broadened the scope of its basis trade mechanism supporting the USDe stablecoin by incorporating tokenized US equities into its portfolio. The protocol now utilizes Binance bStocks for spot market exposure while employing equity perpetual futures contracts to maintain its hedge position.
This strategic shift received the green light from Ethena’s Risk Committee and represents the protocol’s first venture into delta-neutral strategies outside the cryptocurrency ecosystem.
Market participants responded enthusiastically to the announcement. The ENA token experienced a 12% appreciation over a 24-hour window, with trading activity centered around the $0.249 price level at press time.
Ethena (ENA) Price
Binance’s bStocks product provides investors with synthetic exposure to prominent equities such as Nvidia and Tesla without requiring direct share ownership. Each token maintains a 1:1 backing with actual securities held in custody by BTech Holdings Limited, the designated issuer.
Ethena is partnering with @Binance as our first venue for the extension of the basis trade into equity perpetuals, one of the most exciting updates to the USDe collateral backing since launch.
This expands the addressable market of underlying collateral from $2.5 trillion of… pic.twitter.com/be4Mz7XHk1
— Ethena (@ethena) September 25, 2026
The protocol’s approach involves taking short positions in equity perpetual futures contracts against these tokenized holdings. This strategy aims to profit from the funding rate differential between spot and derivatives markets, mirroring the methodology Ethena employs in cryptocurrency markets.
Accessing Returns From Equity Markets
Open interest in Binance’s equity perpetual contracts has surpassed $2.9 billion in total value. Historical data shows the equity basis trade has delivered an average annualized return of 3.56% over the preceding six-month period.
Guy Young, founder of Ethena Labs, characterized this development as the most substantial enhancement to USDe’s yield-generation framework since the protocol’s inception. He emphasized that global equity markets operate at a scale measured in hundreds of trillions of dollars.
Shunyet Jan, Binance’s Head of Exchange and Trading, noted that this integration demonstrates the increasing convergence between cryptocurrency infrastructure and conventional financial markets.
The collateral base for USDe already encompasses DeFi lending protocols, stablecoin liquidity pools, and tokenized real-world assets. As of early July, cryptocurrency basis trades represented approximately 1% of the overall portfolio composition.
Price Action and Technical Outlook
The upward movement in ENA coincides with broader capital flows into alternative cryptocurrencies as Bitcoin remained range-bound. Decentralized finance tokens emerged as particularly strong performers within this sector during the same timeframe.
Data from major exchanges indicates that around $150,000 in short positions on ENA were forcibly closed. These liquidations contributed additional upward momentum to the price movement.
$ENA This Rally Is Just The Begining
Ethena is consolidating above the broken bullish flag on the daily timeframe. The breakout is backed by significant volume and strong buying interest.
Compared to previous expansion cycles, this rally is still in the early stages. There… pic.twitter.com/UET10pNIvQ
— Lana Valentis (@LanaValentis) September 24, 2026
Market analyst Lana Valentis examined the token’s technical formation and identified a bullish flag pattern breakout on the daily chart. According to her analysis, ENA is building support above the broken flag structure with projected price objectives at $0.26, $0.36, $0.55, and $0.84.
Binance has aggressively expanded its traditional finance product offerings throughout 2026. The exchange launched access to over 7,000 US stocks and exchange-traded funds in June, followed immediately by the introduction of bStocks in the same month.
Traditional finance perpetual futures contracts on Binance generated cumulative trading volume of $433.4 billion during August. Equity-linked instruments accounted for approximately $342.9 billion of that total volume.
According to Token Terminal data, the tokenized stock market reached a valuation of $2.7 billion in August, representing significant growth from roughly $80 million one year prior. Binance’s bStocks product contributed more than $600 million to that aggregate figure.
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Key Takeaways
MSFT shares surged 3.7% to $516.50 following the announcement of a completely redesigned Copilot AI experience
The refreshed platform consolidates chat functionality, Office applications, code creation tools and introduces Autopilot, an autonomous AI agent
On September 23, Stifel elevated MSFT to Buy based on impressive fiscal Q4 performance
Oppenheimer boosted its price objective to $570 from $515, suggesting approximately 14% potential gains
Azure’s cloud expansion may hit 46% growth this quarter, potentially climbing toward 50% in subsequent periods
Shares of Microsoft advanced 3.7% during Thursday’s morning session, reaching $516.50. The rally followed the tech giant’s introduction of a comprehensively redesigned Copilot artificial intelligence platform.
The reimagined platform consolidates Copilot into what the Redmond-based company characterizes as an all-encompassing enterprise “super app.” The integration combines conversational AI, Microsoft Office suite integration, natural language-based code creation capabilities and introduces Autopilot, a new self-operating AI assistant.
This represents Microsoft’s most aggressive effort to date aimed at converting its existing Microsoft 365 user base into revenue-generating Copilot subscribers. The strategy also positions the company for head-to-head competition with Anthropic’s Claude in the corporate AI market.
The announcement’s timing was strategic. Alongside the product unveiling, Microsoft revealed enhanced volume pricing incentives for Copilot enterprise licenses, scheduled to take effect this October, coinciding precisely with the platform’s relaunch.
Stifel contributed additional momentum to the stock’s rise. The investment firm elevated Microsoft from Hold to Buy on September 23, highlighting robust fiscal Q4 2026 performance that featured impressive Azure expansion and Copilot surpassing 30 million paid user accounts.
Overall market conditions provided limited assistance. The S&P 500 increased 0.3%, the Dow Jones advanced 0.5% and the Nasdaq Composite climbed 0.4%, all trailing significantly behind Microsoft’s individual performance.
Insights from Oppenheimer’s Microsoft Campus Visit
Oppenheimer analyst Brian Schwartz conducted a visit to Microsoft’s corporate campus and emerged with increased conviction. On September 22, he elevated his price objective to $570 from $515 while maintaining an Outperform recommendation.
The revised target represents approximately 14% appreciation potential from the stock’s September 21 closing price of $501.61. Schwartz characterized management’s outlook as optimistic, highlighting emerging agentic capabilities and robust client interest.
His analysis anticipates Azure achieving approximately 46% constant currency growth during the current quarter, with momentum potentially building toward 50% in the subsequent period. These projections exceed Microsoft’s internal guidance of approximately 45%.
Schwartz noted in his research commentary that enterprises are progressively selecting Microsoft as their primary AI infrastructure provider. After organizations integrate their operations around a particular AI vendor, migration becomes both costly and complex.
Financial Metrics Supporting the Bullish Case
Microsoft’s cloud division has delivered impressive performance recently. Azure and related cloud services revenue expanded 43% during the fiscal fourth quarter.
Azure revenue also exceeded $100 billion for fiscal 2026, marking a milestone achievement for the corporation. This accomplishment coincided with elevated investment levels, as fiscal fourth-quarter capital expenditures jumped 70% to $41 billion.
Microsoft projects calendar 2026 capital investment around $175 billion. This substantial spending has raised concerns among certain shareholders observing the stock’s underperformance relative to broader markets this year.
Schwartz contended the capital allocation is growing more consistent. His analysis suggests that operational improvements and disciplined capital management are delivering more forecastable capital expenditure patterns and favorable free cash flow generation this year.
Oppenheimer’s updated $570 objective aligns closely with the Wall Street consensus of $571.51, per TipRanks data. Other financial institutions have established their own projections. Bank of America assigned a $600 target in early September, while Morgan Stanley maintains a $650 objective set in June.
Schwartz also identified potential headwinds. He highlighted AI-driven market disruption and accelerated second-half 2026 enterprise technology purchasing as challenges that could decelerate Azure and Microsoft 365 expansion entering 2027.
Accelerated purchasing refers to companies that expedited software and cloud infrastructure acquisitions late in 2026 potentially requiring reduced capacity in early 2027, which could compress growth metrics despite fundamentally sound business conditions.
Microsoft’s upcoming quarterly results are anticipated in late October. Market participants will closely monitor whether Azure growth exceeds the 45% guidance and approaches the 46% level Schwartz forecasts.
The post Microsoft (MSFT) Stock Surges 4% Following Copilot Revamp and Bullish Analyst Call appeared first on Blockonomi.

Key Takeaways
Bernstein maintained its Outperform rating and $370 target while highlighting potential margin headwinds for Apple’s December quarter.
Surging DRAM and NAND memory prices are driving up component costs for the iPhone 18 Pro Max.
The firm lowered its fiscal Q1 earnings forecast to $2.87 per share from $3.00, trailing the $2.92 Street estimate.
Shares opened at $335.92 on Friday and climbed 0.49% to close at $337.56.
Portland Investment Counsel established a fresh $2.18 million position in Apple shares during Q2.
Shares of Apple finished Friday’s session at $337.56, marking a 0.49% gain despite cautionary commentary from Bernstein regarding potential margin compression in the December quarter tied to escalating memory component prices.
Bernstein analyst Mark Newman reaffirmed his Outperform stance and $370 valuation target. However, his latest research highlighted significant challenges looming for the critical holiday shopping period.
Newman’s research team conducted an extensive component cost breakdown. Their analysis revealed that memory semiconductor pricing could squeeze Apple’s profit margins beyond current market expectations.
Memory Component Inflation Drives Cost Surge
DRAM and NAND flash memory account for roughly 90% of a projected $168 annual cost increase for the 256GB configuration of the iPhone 18 Pro Max. This represents a substantial escalation for a single component category.
Bernstein’s updated model anticipates iPhone gross margins of 40.4%. This projection falls 390 basis points short of Wall Street’s current expectations.
The firm’s overall company gross margin forecast stands at 46.2%, representing a 50-basis-point shortfall versus consensus estimates. Enhanced pricing in international markets is providing some offset.
According to Bernstein’s calculations, international iPhone pricing averages approximately 1.3 percentage points higher than domestic U.S. levels. This premium is helping to mitigate the margin impact.
When modeling U.S. pricing exclusively, Bernstein arrives at an iPhone margin of merely 39.6%. Under this framework, the company-wide margin would decline to 45.8%.
The firm also revised its fiscal first-quarter earnings projection downward to $2.87 per share. This represents a reduction from the previous $3.00 estimate and falls 2% beneath the Street consensus of $2.92.
Premium iPhone variants are anticipated to comprise 70% of total unit sales in this cycle. While this product mix offers some benefit, Bernstein notes it cannot entirely neutralize the cost headwinds given that consumer demand remains heavily weighted toward the lower-margin 256GB storage option.
Institutional Activity and Wall Street Sentiment Remain Divided
Portland Investment Counsel revealed a newly established position in Apple throughout the second quarter. The investment firm acquired 7,535 shares valued at approximately $2.18 million, establishing it as the firm’s 22nd-largest equity holding.
Additional institutional investors adjusted their positions as well. Ascentis Wealth Management expanded its holdings by 822.7%, while multiple smaller investment firms initiated fresh positions valued between $30,000 and $109,000.
Institutional shareholders currently control 67.73% of Apple’s total shares outstanding. This ownership concentration demonstrates sustained institutional appetite despite the margin-related caution from Bernstein.
Wall Street analysts maintain divergent perspectives on Apple. Robert W. Baird lifted its price objective to $330 while maintaining an outperform recommendation in July, whereas Barclays held its underweight rating with a $245 target.
According to MarketBeat analytics, Apple holds a Moderate Buy consensus rating with a mean price objective of $340.14. The rating distribution includes one Strong Buy, twenty-six Buy, thirteen Hold, and two Sell recommendations.
Apple’s latest quarterly results, released July 30th, delivered earnings of $2.02 per share versus analyst expectations of $1.89. Quarterly revenue reached $109.42 billion, representing a 16.4% year-over-year increase.
The technology giant also extended its worldwide patent licensing arrangement with Qualcomm, commencing April 1, 2027. Apple’s 52-week trading range currently spans from $243.42 to $345.34.
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TLDR:
Switzerland plans one law covering software, hardware, data and digital infrastructure.
The proposal could impose binding security duties on manufacturers and distributors.
Open-source software could receive broader treatment under the planned cybersecurity framework.
Switzerland aims to align its rules with the EU Cyber Resilience Act.
Switzerland is preparing a standalone cybersecurity law covering digital products, data, cloud providers and open-source software. The Federal Council has tasked the Federal Department of Defence, Civil Protection and Sport with preparing a consultation draft by June 2027.
The planned legislation would combine three parliamentary initiatives into one framework. It would also incorporate existing cyberattack reporting requirements for critical infrastructure.
What the Switzerland’s Cybersecurity Law Covers
The proposed Switzerland cybersecurity law would establish binding requirements across several parts of the digital economy. These include software and hardware products, critical digital data, hosting providers and cloud infrastructure.
Manufacturers, importers and distributors would face cybersecurity obligations under the proposed framework. The rules would also establish market surveillance powers and provide a basis for banning sales of insecure products.
The Federal Council said the framework would follow the European Cyber Resilience Act. It also aims to reduce administrative burdens for companies operating across Switzerland and the European market.
The proposal combines three areas previously planned through amendments to the Information Security Act. These cover cyber resilience for digital products, protection of particularly important digital data, and cloud and hosting cybersecurity.
The new law would also include Switzerland’s existing cyberattack reporting requirement for critical infrastructure. That obligation has been in effect since April 2025.
SWITZERLAND PLANS NEW CYBERSECURITY LAW ADDRESSING OPEN-SOURCE SOFTWARE
The Swiss Federal Council is moving to create a standalone federal cybersecurity law, explicitly citing open-source software as an area that could receive a more comprehensive regulatory approach.
The… https://t.co/Kc818nXBn3 pic.twitter.com/kO06KEelB6
— Bitcoin News (@BitcoinNewsCom) September 25, 2026
Switzerland Cybersecurity Law Expands the Open-Source Focus
Open-source software could receive broader treatment under the planned legislation. The Federal Council said consolidating cybersecurity rules would allow Switzerland to address specific technologies more comprehensively.
That approach could provide a single regulatory framework for obligations spanning products, data and digital infrastructure. It would also allow future technological and European developments to be incorporated more easily.
Switzerland already has a federal open-source policy. The Federal Administration publishes software as open source under its existing legal framework.
The country has also tested open-source projects for security vulnerabilities. A National Cyber Security Centre pilot examined TYPO3 and QGIS, with identified vulnerabilities later fixed by their developer communities.
For businesses, the proposed consolidation could reduce the need to navigate separate cybersecurity requirements. The Federal Council specifically pointed to internationally active companies already subject to European cybersecurity rules.
The next major step is the consultation draft, which the defence department must prepare by June 2027. Until then, the detailed obligations and enforcement mechanisms remain subject to the legislative process.
Switzerland plans to bring product, data and infrastructure cybersecurity requirements into one federal law. The framework would also give open-source software a more comprehensive place within Switzerland’s cybersecurity rules.
The post Switzerland Plans New Cybersecurity Law Targeting Open-Source Software appeared first on Blockonomi.

TLDR
Firefly Neuroscience AIFF stock surged 35% after NeuroSigma partnership announcement.
Partnership expands Monarch ADHD therapy access through Firefly clinician network.
Monarch eTNS System offers FDA-cleared non-drug ADHD treatment for children.
Firefly Evoke platform analyzes brain activity using EEG and ERP technology.
Collaboration targets improved personalized ADHD care through advanced solutions.
Firefly Neuroscience Inc. (AIFF) stock climbed 34.87% to $1.6050 after announcing a strategic partnership with NeuroSigma. The agreement expands access to NeuroSigma’s Monarch eTNS System through Firefly’s nationwide clinician network. The collaboration combines brain assessment technology and a non-drug ADHD treatment option for eligible children.
Firefly Neuroscience, Inc., AIFF
Firefly Expands Clinician Network Through NeuroSigma Partnership
Firefly will introduce the Monarch eTNS System to clinicians using its Evoke platform. The partnership targets psychiatry, neurology, and behavioral health practices across the United States. Meanwhile, NeuroSigma will provide training, prescribing support, and product fulfillment services.
The Monarch eTNS System received clearance from the U.S. Food and Drug Administration for pediatric ADHD treatment. The device offers a non-medication approach for children between seven and twelve years old. It delivers mild external trigeminal nerve stimulation through a forehead patch during sleep.
Furthermore, Firefly’s Evoke platform uses quantitative EEG and ERP testing with advanced analytics. The system analyzes brain activity through a database containing more than 200,000 EEG and ERP scans. Therefore, clinicians can access objective information about brain function and track patient changes over time.
AIFF Stock Gains Momentum Following Healthcare Technology Expansion
The partnership follows Firefly’s continued development of neuroscience solutions focused on personalized care. In March 2026, the company announced EEG and ERP biomarker discoveries linked to ADHD presentations. The findings may support future research into treatment selection and patient monitoring.
NeuroSigma expanded availability of its second-generation Monarch device in July 2026. The company also introduced additional payment options in September to support family access. The expansion followed a waitlist exceeding 1,500 patients, caregivers, and healthcare providers.
Firefly Neuroscience develops technology that supports clinicians in understanding brain activity patterns. Its Evoke platform helps identify differences in neurological functions across various conditions. The company continues building partnerships that connect healthcare providers with new treatment options.
The AIFF stock rally reflects market attention following the announcement of the healthcare collaboration. Firefly and NeuroSigma are combining their platforms to improve access to ADHD care solutions. The companies aim to support clinicians with assessment tools and alternative treatment pathways.
Firefly Neuroscience operates in the precision neuroscience sector through its Evoke platform and research programs. The company focuses on using brain data to improve clinical decision-making processes. Meanwhile, NeuroSigma develops bioelectronic medical devices for neurological and psychiatric conditions.
The partnership creates a wider channel for Monarch eTNS adoption among healthcare providers. Furthermore, it strengthens Firefly’s position in the growing digital neuroscience market. The companies will continue supporting clinician education and patient access through the collaboration.

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Key Takeaways
Shares of AMD gained 2% following the announcement of new AI capabilities developed with Perplexity.
The collaboration integrates Perplexity’s Portable Computer feature into Windows devices running AMD Ryzen AI Max processors.
This integration enables users to execute AI operations locally, eliminating the need to consume Perplexity Computer credits.
The announcement reinforces AMD’s strategic expansion into agentic computing platforms initiated in 2025.
Analysts maintain a Strong Buy consensus on AMD with a mean price target of $648.07.
Shares of Advanced Micro Devices climbed 2% during Friday’s trading session after the semiconductor manufacturer revealed its latest AI integration developed in partnership with Perplexity. The stock’s uptick reflected investor enthusiasm surrounding AMD’s continued advancement in AI-enabled computing devices.
The collaboration focuses on bringing Perplexity’s Portable Computer functionality to Windows-based systems equipped with AMD’s Ryzen AI Max processors, including devices running the Ryzen AI Halo developer platform.
This functionality enables users to perform AI operations entirely on their local hardware. By processing tasks on-device, users can establish automated workflows without depleting their allocation of Perplexity Computer credits used for cloud-based inference.
This development represents the continuation of a multi-year strategy from AMD. The company introduced its inaugural AI-capable PCs in 2023, featuring a dedicated neural processing unit integrated directly into an x86 processor architecture.
The chipmaker accelerated this vision in 2025 by focusing on agentic computing platforms. These systems enable AI agents to operate locally on the device instead of depending exclusively on cloud infrastructure.
AMD’s Position on the Partnership
AMD executive Jack Huynh addressed the partnership during Wednesday’s announcement. Huynh serves as senior vice president and general manager of the Computing and Graphics Group within AMD.
“We’re entering a new era of computing, where personal AI transforms the PC from a tool into an intelligent partner,” Huynh stated. He emphasized that personal computers are evolving into systems capable of understanding, reasoning, and collaborating with users.
According to Huynh, the Ryzen AI Max processor family enables AI models and intelligent agents to execute directly on personal computers. This architecture provides users the option to process workloads locally while maintaining access to more powerful cloud-based reasoning capabilities when required.
The processor design merges CPU and GPU capabilities with an expansive shared memory architecture. This configuration enables local AI models to operate concurrently with traditional applications without creating performance bottlenecks.
Perplexity contributes its AI model infrastructure and agent technologies to the partnership. The combined offering aims to transform agentic PCs from a specialized novelty into a mainstream computing option.
Analyst Sentiment on AMD Stock
The strategic importance of this announcement extends beyond the immediate technology. While cloud-based AI processing currently dominates the market, AMD is positioning itself for a potential shift toward local AI execution as user demand evolves.
This strategic positioning explains the positive market response on Friday. Should on-device AI adoption accelerate as AMD anticipates, the company’s early entry into this segment could yield significant competitive advantages.
The Street’s perspective on AMD stock was already positive before this announcement. The consensus rating stands at Strong Buy, supported by 30 Buy recommendations and six Hold ratings issued during the previous three months.
The average analyst price target for AMD stock currently sits at $648.07. Notably, zero Sell ratings have been issued on the stock among tracked analysts.
The Perplexity collaboration provides additional evidence for investors monitoring AMD’s AI PC initiatives. Friday’s stock appreciation demonstrates the market’s immediate response to this strategic development.
The post Advanced Micro Devices (AMD) Stock Gains on Perplexity AI Collaboration appeared first on Blockonomi.

Key Takeaways
CoinMarketCap completed the acquisition of Coinglass, a specialized derivatives analytics platform, with undisclosed deal terms
Coinglass will maintain its existing brand identity, staff, platform infrastructure, API services and pricing structure
The platform monitors derivatives metrics including open interest, funding rates, liquidation data and options activity from 28 major exchanges
With coverage of over 2,500 trading instruments, Coinglass attracts more than 5 million monthly active users
Binance has owned CoinMarketCap since acquiring the price tracking service in April 2020
CoinMarketCap finalized its purchase of Coinglass, a specialized platform for cryptocurrency derivatives analytics, according to Friday’s announcement. The transaction has been completed, though the purchase price remains undisclosed.
CoinMarketCap has acquired CoinGlass, the derivatives data platform behind the liquidation heatmap, open-interest and funding-rate charts traders share every day.
The reason is simple: most crypto volume now trades in derivatives, and CoinGlass is where traders go to make sense… https://t.co/9u7fZlvzmi
— CoinMarketCap (@CoinMarketCap) September 25, 2026
As one of the crypto industry’s most visited price reference sites, CoinMarketCap attracts approximately 115 million monthly visitors who rely on the platform for cryptocurrency valuations and market statistics.
Meanwhile, Coinglass specializes in a more niche segment of digital asset markets. The platform aggregates derivatives metrics including open interest figures, funding rate movements, liquidation events and options market data.
Strategic Value of the Coinglass Platform
Since its 2019 launch, Coinglass has expanded to monitor 28 cryptocurrency exchanges and track more than 2,500 different trading products.
The service attracts over 5 million users monthly. Additionally, more than 10,000 API clients integrate Coinglass data feeds into their proprietary trading systems and analytical frameworks.
Among Coinglass’s popular features are its liquidation heatmap visualizations and comprehensive open interest tracking dashboards. These analytical tools have become widely circulated within online cryptocurrency trading communities.
Derivatives contracts account for the majority of total trading volume across cryptocurrency markets. Consequently, the metrics that Coinglass monitors provide insight into where substantial market activity and leverage exposure exist.
This acquisition enables CoinMarketCap visitors to access derivatives market positioning alongside traditional spot price information. Users will gain visibility into liquidation concentration zones and evolving funding rate dynamics.
Rush, serving as Chief Executive Officer of CoinMarketCap, addressed the transaction. He noted that Coinglass established its market position through concentrated expertise and execution excellence.
He emphasized that CoinMarketCap aims to deliver this specialized data to its broader user base. The company intends to preserve Coinglass’s current operational model without imposing changes.
David Salamon, holding the position of Chief Product Officer at CoinMarketCap, offered additional perspective on the deal. He explained that open interest, funding mechanisms and liquidation patterns reveal where traders are actually deploying capital and accepting risk.
Coinglass Operations to Continue Unchanged
Coinglass has assured users it will preserve its distinct brand identity post-acquisition. The platform’s website, mobile application, complimentary analytics tools, API infrastructure and subscription costs will all remain consistent.
The existing Coinglass team will stay intact after the transaction closes. Management committed to continuing product development that serves their established user community.
This deal represents another chapter in CoinMarketCap’s corporate evolution. Cryptocurrency exchange Binance purchased CoinMarketCap in April 2020.
During that earlier acquisition, Binance pledged that CoinMarketCap would maintain operational independence. The exchange also committed to avoiding any interference with the platform’s cryptocurrency ranking methodologies.
CoinMarketCap has not yet announced plans to embed Coinglass analytics directly within its primary price tracking pages. Currently, both services will function as distinct offerings under common ownership.
The post CoinMarketCap Buys Coinglass in Major Derivatives Data Expansion appeared first on Blockonomi.

Key Takeaways
AMD achieved a $1 trillion market capitalization on September 21 following a 187% surge in 2026, compared to Nvidia’s $5.45 trillion valuation.
AMD’s forward price-to-earnings ratio sits at approximately 55.6x, significantly higher than Nvidia’s 18.7x multiple.
Nvidia generated $96.2 billion in quarterly sales with 106% year-over-year growth, while AMD reported $11.5 billion with 50% growth.
Nvidia’s Vera Rubin platform has entered production and is projected to contribute 20% of data center sales in the upcoming quarter.
AMD’s Helios rack system, linked to an Anthropic partnership for up to 2 gigawatts of MI450 infrastructure, has just started its deployment phase.
On September 21, Advanced Micro Devices reached a milestone market capitalization of $1 trillion. The semiconductor company had surged approximately 187% throughout 2026.
By comparison, Nvidia maintained a substantially larger footprint. As of September 23, the company commanded a market value near $5.45 trillion.
However, the most significant contrast between these two semiconductor giants isn’t their market capitalization—it’s their valuation metrics.
AMD currently commands a forward earnings multiple of roughly 55.6x. Nvidia, meanwhile, trades at just 18.7x forward earnings. This disparity indicates that shareholders are paying considerably more for each dollar of AMD’s anticipated future profits.
Financial Performance Reveals Substantial Divergence
AMD’s second quarter results showed revenue of $11.5 billion, representing 50% year-over-year expansion. The company’s Data Center segment more than doubled, reaching $6.7 billion.
Nvidia’s financial metrics dwarfed those figures. The chip leader posted quarterly revenue of $96.2 billion, marking 106% growth. Its Data Center division climbed 117% to $89.0 billion.
Nvidia maintained a gross margin of 75%. AMD reported 56%.
Looking ahead, AMD projects approximately $13 billion in third quarter revenue, representing 41% growth. Nvidia’s guidance stands at $108 billion.
New Platforms Show Different Deployment Stages
Nvidia’s upcoming chip architecture, Vera Rubin, has already entered mass production. CEO Jensen Huang described it as the company’s most aggressive product launch ever. Analysts expect it to represent approximately 20% of data center sales during the fiscal third quarter.
Company executives indicated that current supply satisfies roughly 70% of demand for these advanced chips.
AMD’s Helios rack solution has only just begun shipping. CEO Lisa Su informed shareholders that the third quarter represents the initial deployment phase, with meaningful acceleration anticipated in the fourth quarter and another uptick in early 2027.
AMD claims Helios offers up to 30% better token generation efficiency per dollar compared to rival systems.
Nvidia revealed that Vera Rubin produces $40 billion in revenue per gigawatt of installed infrastructure. This compares favorably to $25 billion for the previous Blackwell generation. The company additionally announced a hyperscaler cloud pipeline exceeding $2 trillion.
AMD’s expansion strategy hinges on securing fresh partnerships. Anthropic has committed to installing up to 2 gigawatts of MI450 infrastructure via Helios. This follows previous gigawatt-level commitments from OpenAI and Meta.
Su suggested to Wall Street analysts that the $30 billion revenue target for AMD’s Instinct accelerator portfolio in 2027 might prove conservative.
AMD’s trailing twelve-month price-to-earnings ratio registers at 154. Nvidia’s comparable metric is 29.
According to Insider Monkey’s institutional ownership tracking, 164 hedge funds held AMD positions during the second quarter, climbing from 134 in the previous period. Nvidia’s institutional ownership expanded to 285 funds from 275 during the same timeframe.
As of August 31, AMD’s short interest totaled 41.7 million shares, equivalent to 2.57% of available float.
Nvidia indicated that margin compression should reach its nadir around 71% to 72% in the fourth quarter, driven primarily by escalating memory component costs. The company has simultaneously committed to $279 billion in supply chain obligations.
Wall Street’s consensus estimate for Nvidia’s fiscal 2028 earnings per share currently stands at $15.68, up from $12.88 just thirty days prior.
AMD’s share price has appreciated 185.68% over the trailing six-month period. Upcoming quarterly reports from both manufacturers, especially AMD’s fourth quarter results showcasing Helios deployment metrics, will likely prove decisive in determining investor preference between these two AI semiconductor leaders.
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